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“What you’re talking about is a situation, or potential situation, where in American terms, the United States’ Supreme Court would take a constitutional amendment and say that it’s unconstitutional. The law, which would limit the power of Israel’s Supreme Court, is an amendment to one of Israel’s Basic Laws, which exist in place of a formal constitution. The Supreme Court has said that it will hear appeals against the law in September. Israel’s new law strips the Supreme Court of the ability to reject some government decisions on the basis of the “reasonableness” standard. Amir Cohen/ReutersThe country has no upper chamber of the parliament, but it has a relatively strong Supreme Court.
Persons: Wolf, Benjamin Netanyahu, CNN —, ” Netanyahu, CNN’s Wolf, Ariel Schalit, Joe Biden, Netanyahu, we’re, We’re, , Amir Cohen, Blitzer, they’re, unfazed Organizations: CNN, CNN — Israel’s, United States ’, Biden White House, AP Locations: United, Tel Aviv, Israel, United States, Iran, American
A mystery buyer spent $875,000 on 11 of Hunter Biden's paintings. That's according to internal documents from Biden's art gallery that Insider obtained. Hunter Biden was aware of Hirsh Naftali's identity as well as the identity of another buyer, Kevin Morris, Insider learned. Hunter Biden's counsel told Insider that he became aware of the buyers' identities after their purchases because they were his friends. Hirsh Naftali's role on the commission establishes at least one point at which the worlds of Hunter Biden's art patrons and President Biden's donors overlap.
Persons: Hunter, Biden, Georges Bergès, Joe Biden, Elizabeth Hirsh Naftali, Hunter Biden, Hirsh Naftali's, Kevin Morris, Hunter Biden's, " Hunter Biden, Ian Sams, Nate Freeman, what's, Freeman, Benjamin Godsill, Godsill Organizations: Service, Commission, America's, Biden White, The Washington Post, White Locations: New York, Wall, Silicon, Manhattan
Internal gallery documents reveal that sales of Hunter Biden's art brought in $1.3 million. The messaging seemed to suggest that Hunter Biden's art patrons came from a rarified universe of collectors who had nothing to do with the hurly burly of politics. Hunter Biden did in fact learn the identity of two buyers, according to three people directly familiar with Hunter Biden's own account of his art career. In the past, Hunter Biden has privately suggested that he could arrange to have friends seated on the commission. In fact, according to the person familiar with Hunter Biden's account, Morris purchased the art through Biden's gallery.
Persons: Hunter Biden, Elizabeth Hirsh Naftali, Kevin Morris, Hunter Biden's, Joe Biden, Hunter, Hirsh Naftali, Biden, Kamala Harris, Hirsh Naftali's, , Nancy Pelosi, Ian Sams, Bruce Weinstein, it's, Weinstein, Eric Schwerin, Barack Obama, Eric, Schwerin, Abbe Lowell, Lowell, Georges Bergès, Hunter Biden's gallerist, Hunter Biden deplanes, Elizabeth Frantz, Morris, Charlie Horne, Gurr Johns, he'd, Kedric Payne, Mattathias Schwartz Organizations: Service, Biden White, Biden White House, California Democratic, Democratic National Campaign, Commission, America's, RAND Corporation, Air Force, New York Times, Times, Department of Justice Locations: Wall, Silicon, New York, Los Angeles, California, Israel, Europe, Syracuse , New York
As a result of these unexpected swells, Morgan Stanley now projects 1.9% GDP growth for the first half of this year. Morgan Stanley's revision came at a pivotal time for the Biden White House. "Together we are transforming the country, not just through jobs, not just through manufacturing, but also by rebuilding our infrastructure," Biden said Thursday during a visit to a Philadelphia shipyard. The White House has dubbed this brick-and-mortar economic growth formula "Bidenomics," a phrase originally used by Republicans to jab the president, who co-opted the term as a badge of honor. "This report confirms what we've long said: Our strong and resilient economy is Bidenomics in action," White House assistant press secretary Mike Kikukawa said in an email to CNBC.
Persons: Joe Biden, Jill Biden, WASHINGTON — Morgan Stanley, Joe Biden's, Ellen Zentner, Morgan Stanley, That's, Zentner, Morgan Stanley's, Biden, Kevin McCarthy, Mike Kikukawa Organizations: Marine, WASHINGTON, Biden's Infrastructure Investment, Jobs, Biden White House, Philadelphia shipyard, CNBC, America Economic Survey, Republicans, House Locations: Washington , DC, U.S, Philadelphia, America
CNN —Donald Trump’s legal troubles deepened earlier this week when he was informed by special counsel Jack Smith that he’s the target of the criminal investigation into the aftermath of the 2020 election – the clearest sign yet that the former president could soon face more criminal charges. But without more detail, it’s hard to know exactly what shape the charges will take or what Trump 2020 election-related conduct they are aimed at. Among the potential charges Trump has been warned about is one pertaining to witness tampering, according to the Wall Street Journal and other outlets. Trump’s alleged involvement in a criminal conspiracy has been invoked in the litigation around the House select committee that investigated January 6’s pursuit of Trump lawyer John Eastman’s emails. That ruling pointed both to the obstruction of an official proceeding statute and the general conspiracy statute.
Persons: Donald Trump’s, Jack Smith, Smith, Trump, Todd Blanche, , Norm Eisen, “ Trump, Shan Wu, CNN’s Manu Raju, Mike, Joe Biden, ” Eisen, , Justin Levitt, Levitt, Douglass Mackey, ” Mackey, Joe Biden’s, Enrique Tarrio, Trump’s, John Eastman’s, David O, Carter, Eastman, Elie Honig, ” Honig Organizations: CNN, Sunday, White, Trump, ABC, The New York Times, Loyola Law School, Obama Justice Department, Biden White House, Klux Klan, Wall Street, Justice Department, Boys, Eastman, Capitol Locations: United States, New York, Georgia, Arizona
Biden reportedly yells at White House staffers behind closed doors, sometimes in profanity-laced comments. The image of an angry Biden contrasts with the president's more avuncular public persona. Chris Whipple, who wrote the definitive book on White House chiefs of staff, said that the current commander-in-chief "definitely" has a temper. It may not be as volcanic as Bill Clinton's, but it's definitely there," Whipple told Axios. In his book about the Biden White House, Whipple wrote how then-White House press secretary Jen Psaki told Biden she knew she had gained his trust when he would finally unload on her.
Persons: Biden, Joe Biden, Chris Whipple, Clinton's, Whipple, Axios, Jen Psaki, Psaki, Sen, Ted Kaufman, Kaufman Organizations: White House, Service, White, Biden White, Biden Locations: Wall, Silicon
But as president, he sided with the CIA and FBI in continuing to shield some records from the public. "When I return to the White House, I will declassify and unseal all JFK assassination related documents," Trump wrote on his social media platform, Truth. In 2017, Trump oversaw the release of over 19,000 documents but eventually broke a promise to fully release the remaining material. Siding with the CIA and FBI, Trump eventually kicked the can on the remaining records to 2021. The constant drip of records flies into the face of the spirit of the President John F. Kennedy Assassination Records Collection Act of 1992.
Persons: Trump, Biden, , Donald Trump, John F, Kennedy, It's, Joe Biden, Kennedy's, Karine Jean, Pierre, what's, Gerald Posner, Lee Harvey Oswald, Robert F, Kennedy Jr, JFK's, Trump's, Warren Organizations: CIA, FBI, Service, White, JFK, National Archives, Biden White, Democratic, NBC News, Kennedy, Parkland Hospital
Alex Soros, the 37-year-old son of George Soros, has taken over the reins of his father's empire. He has turned his image around and is now at the helm of Soros' Open Society Foundations. Alexander Soros, the 37-year-old son of legendary investor George Soros, has taken over the reins of his father's empire in what is seen as a 180-degree departure from his previous playboy image. Alex — the elder son of George Soros and his second wife, historian Susan Weber — wasn't always in the pole position to take over the empire. An Open Society Foundations spokesperson confirmed to Insider that Alex has been named chair of the Open Society Foundations.
Persons: Alex Soros, George Soros, Alex, Alexander Soros, Alexander —, Alex —, George Soros's, Susan Weber — wasn't, Jonathan Soros, Soros, Joe Biden, Justin Trudeau, Dionysus, Heine, Nietzsche, Marx Organizations: Soros, Society, Soros Fund Management, Wall Street Journal, OSF, Wall Street, Open Society, Canadian, New York Times, New York, NBA, University of California, Biden White Locations: Southampton, , Berkeley, Budapest
George Soros has handed control of his foundation and investment fund to his 37-year-old son Alex. George Soros, 92, has handed the reins of his $25 billion empire to his 37-year-old son in a decision that has surprised some. There are some parallels between the Soros succession and the Roy siblings' battle for control of Waystar Royco in HBO's "Succession." "He's earned it," George Soros told the newspaper. Representatives for George Soros didn't immediately respond to a request for comment from Insider, made outside normal working hours.
Persons: George Soros, Alex, Alex Soros, HBO's, Roy, George Soros's, Soros, Jonathan Soros, Kendall Roy, Jonathan, He's, Roman Roy, Roman, Kendall, George Soros didn't Organizations: Wall Street, Morning, Soros's, Foundations, Soros Fund Management, New York, NBA, Biden White, . Locations: HBO's, White
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Biden WH Chief of Staff Ron Klain: Pres. Biden's economic record speaks for itselfFormer Biden White House Chief of Staff Ron Klain and former Trump White House chief of staff Mick Mulvaney join 'Squawk Box' to discuss President Biden's economic agenda and more.
Persons: Fmr, Biden, Ron Klain, Mick Mulvaney Organizations: Biden White, Trump White House Locations: Pres
Far-right House members are not pleased with House Speaker Kevin McCarthy's debt ceiling compromise. Eleven conservative GOP members nuked McCarthy's bans on banning gas stoves, sending his plans up in flames. The Gas Stove Protection and Freedom Act would have barred the Consumer Product Safety Commission from using federal funds to regulate gas stoves or issue safety guidance that would ban them or make them more expensive. To peel back the layers here: The folks who have championed gas stoves versus induction stoves in the culture wars voted against H.Res. 463 — a procedural vote to establish rules on a floor vote for two gas stove-related bills — to punish McCarthy.
Persons: Kevin, , Kevin McCarthy, nuked, McCarthy, Matt Gaetz, Chip Roy, Matt Rosendale, Rob Bishop, Ken Buck, Lauren Boebert, Eli Crane, Andy Biggs, Tim Burchett, Ralph Norman, Bob Good, Steve Scalise, Caucus —, Gaetz, Farnoush Amiri Organizations: Service, Caucus, Gas, Protection, Product Safety, US Department of Energy, Biden White, H.Res, NBC, North Carolina Rep, Colorado, Colorado Rep, Arizona, Tennessee, South Carolina Rep, House Republicans, Gaetz Locations: Florida, Texas, Montana, Arizona, Virginia
GOP Rep. Dan Bishop called for Kevin McCarthy's removal as House speaker after he struck a debt ceiling compromise with Biden. "All you're hearing from the mainstream media is Kevin McCarthy is an adult. Kevin McCarthy is a leader. Kevin McCarthy is responsible," Bannon said. Biden announced the debt ceiling deal on Sunday, saying it would take the threat of a "catastrophic default off the table."
Persons: Dan Bishop, Kevin McCarthy's, Biden, it's, Bishop, McCarthy, emasculating, , Joe Biden, who's, excoriated McCarthy, Steve Bannon, Donald Trump's, Kevin McCarthy, Bannon, they're, Biden White, overreach Organizations: Republicans, Service, North Carolina Rep, Caucus, Republican, GOP, Democratic, North, White, Biden Locations: North Carolina
Trump and his allies have insisted that as president, Trump did not have to follow a specific process to declassify documents. The 16 records may help federal investigators overcome a significant obstacle to a potential prosecution of the former president. The special counsel was also given access to other records not challenged by the Trump team. Ultimately, the special counsel identified the 16 records in question as relevant to the grand jury investigation. “You have the Presidential Records Act.
In an open letter to President Biden and top Congressional leaders Tuesday, nearly 150 business leaders urged the two sides to act – or face “a devastating scenario … and potentially disastrous consequences,” the letter states. Much worse will occur if the nation defaults on our debt obligations, which would weaken our position in the world financial system,” the letter states. A default on the nation’s debt could send the economy into a recession, and the stock market could tank. In fact, we have already seen Treasury’s borrowing costs increase substantially for securities maturing in early June,” Secretary Yellen wrote Monday. “This cannot be allowed to happen,” the letter states.
White House press secretary Karine Jean-Pierre delivered the commencement speech to Rice University's undergraduate class of 2023 on May 6. Throughout the 22-minute address, Jean-Pierre had one central message, which she repeated 12 times: "Hope is action." "My parents worked hard jobs, and even harder hours, to make sure my siblings and I got the education we needed," she said. It was a significant moment for Jean-Pierre and especially for her father. Still, Jean-Pierre points to voting as one of the key actions an individual can take to change their community.
CNN —The national season of violence deepened with a weekend of tragedy in Texas that hit two of the rawest political divides, guns and immigration. It was the latest in a string of mass shootings in Texas and across the country that have killed many innocent people but have brought no action to end the cycle of loss. Then, on Sunday, a driver slammed into a group of migrants waiting at a bus stop outside a shelter in the Texas border town of Brownsville. But as in the case of mass shootings, there is little chance that the nation’s polarized politics will ease in order to offer the space for meaningful resolution. The latest mass shooting in Texas came after a spree of such killings in schools, supermarkets, at community parades, a bank and places of worship nationwide.
Budget Cuts in the G.O.P. If every agency is cut If defense, veterans’ health and border security are spared Defense Defense –18% 0% No change Veterans' medical Veterans' medical –18% 0% No change Health and Human Services Health and Human Services –18% –51% Education Education –18% –51% Housing and Urban Development Housing and Urban Development –18% –51% Homeland Security Homeland Security –18% 0% No change Justice Justice –18% –51% State State –18% –51% Transportation Transportation –18% –51% Agriculture Agriculture –18% –51% International aid International aid –18% –51% NASA NASA –18% –51% Veterans (other) Veterans (other) –18% –51% Energy Energy –18% –51% Interior Interior –18% –51% Treasury Treasury –18% –51% Labor Labor –18% –51% Social Security Administration Social Security Administration –18% –51% Commerce Commerce –18% –51% Environmental Protection Agency Environmental Protection Agency –18% –51% Corps of Engineers Corps of Engineers –18% –51% Other Other –18% –51% Source: Analysis of Congressional Budget Office data by Bobby Kogan, Center for American Progress Note: Figure shows base discretionary budget authority totals for 2024-2033. The New York TimesThe charts above show how exempting big categories of spending would make the budget caps more draconian. The budget caps aren’t the only changes in the current House bill that would reduce federal spending. tax enforcement Budget cuts would reduce tax collections, reducing the savings in the rest of the bill –$120 billion Sources: Committee for a Responsible Federal Budget ; Congressional Budget Office Note: TANF refers to the Temporary Assistance for Needy Families program.
How climate change could hurt your bottom lineSabatier isn't alone in expressing concern that climate change could hurt returns in the coming years. "It's mainstream enough that Janet Yellen came out and said climate is the biggest risk to the financial system. The Biden White House has said that people are severely underestimating the future risk and impact of the climate on financial markets," he says. Some investing strategies seek to mitigate climate risk by investing in companies that score highly on sustainability metrics. Still, those are unlikely to solve the potentially broad threat climate change poses to markets, says Sabatier.
Biden trails recent Democratic incumbent presidents on the issue: Barack Obama announced he would run for a second term in 2012 on April 4, 2011, and Bill Clinton's 1996 re-election announcement was April 14, 1995. Jimmy Carter, however, waited until Dec. 4, 1979, to announce his 1980 re-election run. He would be 86 at the end of a prospective second term. But the trip here just reinforced my sense of optimism about what can be done," Biden told reporters at the tail-end of an emotional trip to Ireland last week. This week, Biden plans remarks on childcare and environmental justice, along with a visit to a labor union training facility in Maryland to talk about the economy.
A different report containing classified material will be shared with members of Congress, which comes in response to requests from congressional committees, the White House said. "President Biden's choices for how to execute a withdrawal from Afghanistan were severely constrained by conditions created by his predecessor," the report said. But the Trump administration "provided no plans for how to conduct the final withdrawal or to evacuate Americans and Afghan allies," the White House said. "No agency predicted a Taliban takeover in nine days," Kirby told reporters at the White House press briefing. Many critics of the withdrawal — including lawmakers from both parties — faulted the Biden administration for how it handled the pullout.
WASHINGTON/NEW YORK, March 25 (Reuters) - The banking crisis set off by the swift collapse of Silicon Valley Bank (SIVB.O) has exposed a sharp disconnect between Washington and Wall Street. Some critics are asking whether the Biden administration could have contained the crisis with aggressive actions at the start. FINDING A BUYER FOR SVBThe failure of the nation's 16th largest bank caught regulators off guard. The banking industry itself is not united on how to reassure depositors. The banking industry is searching for sweeping relief to calm markets, while Washington is discussing how to prevent the next crisis.
While big banks have dominated headlines, the country's 4,258 community banks, which are more risk-averse, account for more than 90% of all chartered banks. Her comments marked a shift in emphasis to include community banks that were not mentioned in her earlier testimony. "The community banks in this country, we know, are strong and resilient. Yellen's shift to include community banks "was certainly better, it was an attempt for her to kind of restate what she was saying and acknowledging the importance of the community banks," Williams said. Community banks play an important political role.
Warren Buffett has been talking to the Biden administration amid the banking crisis, per Bloomberg. The billionaire talked to officials about a possible investment in regional banks. Buffett has previously stepped in to help banks in crisis and also offered advice, per the report. Biden told investors in SVB and Signature they wouldn't be bailed out, sending regional bank stocks sliding last week. An investment by Buffett could help restore confidence without bailing investors out directly, Bloomberg reported.
The TikTok logo is displayed outside TikTok social media app company offices in Culver City, California, on March 16, 2023. related investing news What a potential TikTok ban could mean for Club holding Meta Platforms It's not an issue yet, as there are still some ways a TikTok ban could be avoided or accessed legally in the U.S. Should the U.S. ban TikTok, the mechanics on what happens from there get murky. And the app stores controlled by Apple and Google are the primary places for consumers to download the TikTok app. Under Chinese law, companies can be required to hand over internal information to the government for supposed national security purposes.
President Joe Biden released his budget on Thursday, vowing to cut $3 trillion from the federal deficit over the next decade, in part, by levying a 25% minimum tax on the wealthiest Americans. "It does this in part by reforming our tax code to reward work, not wealth, including by ensuring that no billionaire pays a lower tax rate than a teacher or firefighter and by quadrupling the tax rate on corporate stock buybacks," Young said. In addition to social spending, the budget includes robust defense funding. House Budget Chairman Jodey Arrington told CNN on Wednesday the GOP budget should be ready by the second week in May. Preempting Republican concerns, Rouse stressed the ways the Biden White House has repeatedly bucked economic expectations.
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